Are you a Sky customer wondering whether it’s worth paying for Sky Protect Plus? If you have several devices that need insuring, then it can provide great value. And it could provide one of the cheapest forms of TV insurance too.
As I’m sure most of you are aware, companies only offer you insurance because it makes them money. That means the majority of customers spend money on a service they will never use. But some people do not like nasty surprises, so insurance gives you peace of mind.
So do you need Sky Protect Plus?
When I originally looked at Sky Protect a few years ago, I thought it was a tremendous waste of money. Why would you need it? If your equipment was to fail, all you needed to do was phone Sky and tell them that you couldn’t watch TV anymore. They would tell you that it would cost £60 to send an engineer out. You reply that you’re not willing to pay and want to cancel, and hey presto, they send an engineer out to fix the problem free of charge. After all, think about how much you pay a year for your subscription and consider whether they would want to lose that income.
Or, you could visit eBay or a local ads page and pick up a 2nd hand box for around £30. Far cheaper than spending over £100 a year on insurance.
Although Sky boxes are a great piece of equipment, they aren’t expensive to manufacture. You may not be aware, but Sky boxes are built by several different companies including Pace, Amstrad and Samsung. This means that they compete against each other to build not only better, but cheaper boxes.
What does Sky Protect Plus cover?
Your box, dish, cables and remotes. If you have Sky broadband, then your router will also be covered. If any of your equipment fails, then Sky will replace or repair it within two days.
How much does it cost?
Whether you have a Sky Q, HD, or a standard box, the cost of cover rises with the box’s age. Boxes up to 6 months old cost £5.99 per month, 6-12 months £8.25 per month and over 12 months £9.99 per month. It’s questionable if the cover is any use for newer boxes, as those under a year old will be covered by a warranty, so you will only need to use Sky Protect if it is damaged accidentally. And the chances of this are quite slim when you consider the box normally sits in the corner of the room or in a cabinet.
So why even consider taking out insurance?
When you take out your cover you can add another device for free. That’s right, as long as your device cost less than £2000 brand new, you can get it insured at no extra cost. And it doesn’t quite end there. You can keep adding extra devices for just £3 per month. From 3D TV’s to game consoles to laptops, it’s all covered. You can even insure your mobile phone as long as it’s less than three years old (although a £75 excess does apply for phones).
How does this compare to other insurance companies?
I searched for cover on three devices – Apple MacBook Air 13″, Apple iPhone 6s 64GB and a PlayStation 4.
Sky Protect Plus (with an 18-month-old box) would cost £15.99 per month.
Protect Your Bubble would cost £19.10 per month.
Gadget Cover costs £18.70 per month (this includes a month free with an annual policy).
As you can see, Sky come up trumps. They are not only the cheapest, but you have the added bonus of your Sky equipment being covered too. Most insurance companies increase your premium depending on the level of cover you need, but as Sky charge a flat rate of £3, they are always going to be competitive.
And TV insurance?
I took a look at insurance for a £1500 TV. If I decided to go through Sky, with a Sky box, it would cost me just £7.99 per month. The next cheapest was Gadget Cover at £12.99 and that didn’t include cover for the Sky box.
Anything else to look out for?
Before you get all your gadgets insured, make sure they are not covered elsewhere. Some home insurance policies may cover accidental damage, although check how much excess you may need to pay first – is it really worthwhile paying a £250 excess to get a £300 TV replaced? Also, some paid current accounts offer insurance too, so check with your bank.
Remember to look through the T&C’s before you take out any insurance product to make sure you understand what is and isn’t included.
Also look out for cashback deals. Signing up through TopCashback or Quidco can often see you receiving in the region of £7.
If you’re a Sky customer, take a look to see how you can save up to 60% on the price of your contract.